ELI5 Cryptocurrency, cryptography, software development and information security. Our latest featured cryptocurrency knowledge base articles including basic concepts, software development, technical articles, easy to follow ELI5 introductions to technical concepts and much more!
ELI5 Dollar Reboot Composite
Market analyst Jim Rickards edits the Strategic Intelligence newsletter and, in 2017, he made several predictions about the financial markets in the coming years, specifically men...
Who is Emin Gün Sirer?
Dr. Emin Gün Sirer is a computer scientist based in Ithaca, New York. While a professor at Cornell University, he also currently leads the AVAX Avalanche cryptocurrency development team at Ava Labs. A graduate of Robert College, he later obtained a BSE in Computer Science from Princeton University. He then went on to work at […]
Cryptocurrencies and digital governance: Blockchains for transparency
Governance involves higher level management at a strategic level. The main purpose for the adoption of proper governance frameworks and processes is to maximize value for stakeholders by avoiding legal and compliance setbacks. At the same time, governance also concerns itself with internal monitoring, evaluation and direction of priorities by an enterprise. By complying with […]
ELI5 Avalanche [AVAX] Platform Whitepaper Summary
In this post we’ll summarize the Avalanche Platform whitepaper [PDF]. This document is part of Ava Labs’ technical material about the Avalanche protocol and its implementation. Since the paper goes into high detail, we’ve summarized it ELI5 style to give you an overview of how the official AVAX implementation works. The Avalanche platform whitepaper focuses […]
ELI5 What is the Avalanche Protocol? [AVAX]
Avalanche is a consensus mechanism which aims to combine the best features of previously existing protocols. If you’ve tried to understand the Avalanche consensus protocol paper, then you may have stalled when you ran into technical terms like metastability, Byzantine adversaries, leaderless Byzantine fault tolerance, among others. Here I’ll try to summarize, in very simple […]
Concepts In This Page
Ticker symbol for the Avalanche AVAX cryptocurrency.
AVAX is the cryptocurrency released in 2020 by Ava Labs.
The AVAX cryptocurrency is used for all transactions in the Avalanche network.
First Generation Cryptocurrencies
The first generation cryptocurrencies was spawned by Bitcoin. Several Bitcoin forks exist on this generation. Most 1st generation coins simply copied the Bitcoin source code while modifying the encryption algorithms and total coin supply.
Second Generation Cryptocurrencies
The second generation of cryptocurrencies added on-chain smart contracts and fully featured contract programming languages. Ethereum, which is the most notable 2nd generation cryptocurrency, brought smart contracts and introduced tokens to the masses, spawning the wave of ICO's from 2014 onwards.
Third Generation Cryptocurrencies
Third Generation Cryptocurrencies are still being developed. These include everything from second gen cryptos, plus on-chain governance, delegated Proof of Stake consensus and native compliance features. Cardano is a notable example of 3rd gen cryptocurrency project.